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Vinalines warns of rising piracy in SE Asia



Vietnam National Shipping Lines (Vinalines) warned its affiliates to remain vigilant against rising piracy in Southeast Asia. Marine transport companies must strictly follow safety protocols and maintain frequent communications with their dispatchers, the state-owned corporation said in a statement.








Shipbuilder China Rongsheng Heavy Industries has snapped up a majority interest in a company searching for oil in Kyrgyzstan, marking a move into oil exploration amid headwinds in its core shipbuilding business. China's largest private shipbuilder, which expects to post a significantly higher first-half loss when it reports results next week, has suffered from a drastic slump in orders amid a global shipping downturn. It also diversified into building drilling rigs, used in oil exploration, in 2013.

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A “significant” amount of produce out at sea needs to be returned to its original senders after Russia imposed a ban on food imports from Western countries, a unit of A.P. Moller-Maersk said in a regular newsletter to shippers.
Germany is providing multi-billion-euro financial guarantees to help its biggest utility E.ON strike long-term gas import deals, a source with direct knowledge of the matter said, as the country seeks to reduce its dependence on Russian supply.
CMA CGM, China Shipping Container Lines (CSCL), Orient Overseas Container Lines (OOCL) and Pacific International Lines (PIL) will jointly launch a new weekly service in early November.
Tsakos Energy Navigation (NYSE:TNP) was upgraded by research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report released on Wednesday.
The Port of Gothenburg six-monthly report shows that European freight volumes strengthened during the first half of the year whilst global container trade fell.
Shares of shipping companies have rallied up to 10% on the bourses after the Baltic Dry Index hit four-month high. The Baltic Dry Index touched 1,061, its highest level since April 9 2014, has rallied 47% from its recent low of 723 touched on July 22, the Bloomberg data shows.
The Swedish Club continued to demonstrate a solid performance in the first six months of the new accounting year with the announcement of its half-year results.
International Economic Relations general secretary Panagiotis Michalos met with with the head of the state-run Fujian Shipbuilding Industry group Zhao Jinjie.
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